Euro Hits Highest Level Against Polish Złoty Since Late 2023

The euro strengthened against the Polish złoty on Thursday, reaching its highest level since late 2023. The single currency briefly rose by about 12 groszy and traded at around PLN 4.377 in the morning before climbing to just above PLN 4.40 by 11 a.m.

However, the exchange rate subsequently fell below PLN 4.379 by 2:30 p.m., with the euro's peak being its highest since November 2023 when it traded at PLN 4.42.

The złoty also weakened against other major currencies, including the U.S. dollar, British pound, and Swiss franc, although to a lesser extent.

Analysts linked the currency movements to geopolitical uncertainty and higher crude oil prices, with Bank Millennium commenting that markets are still being influenced by global factors.